And now for some news from the consumer led economy. Here is a direct link.
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Cory’s Chart Corner
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Eventually excessive greed bites people in the ass!
Mars FX Hedge Fund Goes Bankrupt.
$600 Million Missing,
Criminal Investigation, and Hedge Funds Want Even Less Oversight???
“…Tutera, 70, who was swindled in the GPB Capital fraud several years ago, has now sworn off hedge funds and private equity. “I’m really fed up with
I am not surprised:
– Taxes for the rich have gone up. It was the platform Obama campaigned on. (And Congress spent this money, it was supposed to bring in, in the first 4 weeks of this year. I agree with Kyle Bass & Jim Puplava: “Washington doesn’t have a taxation problem, it has a spending problem”).
– Payroll taxes are back up to their 2009 (2010 ?) level.
– US citizens are now paying the “Obama care” taxes, starting January 1st.
– A significant amount of taxdeductions have been eliminated for the FY 2013. And there’s more to come in the next year(s).